During his press conference today, President Obama tried as best he could to avoid using the term “tax increase.” He favors a “balanced approach that looks at everything.” He wants “revenue in the mix.” He wants to “eliminate subsidies” for using company planes or discovering oil and gas. He wants to reduce “spending in the tax code,” etc.
It is reminiscent of the ObamaCare debate, when Obama assured George Stephanopoulos the penalty enforcing the individual mandate was not a “tax.” Currently, he is defending ObamaCare in the courts by arguing it is an exercise of the federal taxing power. ObamaCare also included a “Medicare contribution” that was not a contribution and had nothing to do with Medicare.
So do not worry about ObamaRevenueMix. If you like your existing money, you can keep it! If you are not a millionaire or billionaire, do not worry. The administration wants a trillion more dollars withdrawn from the private economy, and the economic consequences will be felt only by the targeted few. It is just a balanced approach.
George Orwell, your office is trying to reach you. Again.
